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Dec 24, 2012
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on taxes, i know it's hard for the republicans but the president ran on that platform, 250, no tax increase for people below but taxes for people above. 60% of the voters said they were for it in the exit polls, including some republicans and yet our republican colleagues by refusing to go along with revenues are risking the fiscal cliff and make no mistake about it. if we go over, god forbid and i still don't think we have to, the american people are going to blame the republican party and they'll come right back and pass something. so i don't think the middle class is at risk. if we go over the cliff, our republicans colleagues will come back and go uh-oh and pass the bill we passed in senate already. >> can check hagel become secretary of defense if he's the republican's nominee? >> a lot of republicans have asked hard questions. i don't think he's going to get many republicans votes. i like chuck but his positions are really out of the mainstream and well to the left of the president. i think it would be a challenging nominations but the hearings will matter. chuck will have a chance to
on taxes, i know it's hard for the republicans but the president ran on that platform, 250, no tax increase for people below but taxes for people above. 60% of the voters said they were for it in the exit polls, including some republicans and yet our republican colleagues by refusing to go along with revenues are risking the fiscal cliff and make no mistake about it. if we go over, god forbid and i still don't think we have to, the american people are going to blame the republican party and...
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Dec 27, 2012
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>> if all tax rates go up, any deal can be called a tax cut. it's simple like that. if you go over the cliff, anything's a tax cut. >> if you do it now how's it interpreted? >> the interpretation will some primary voters is you danced around on rates. >> or they pass a bill cutting taxes continuing the bush tax cuts for under $500,000 a year. something they agree on. >> because of what bob's saying is they're worried some voters are going to look at that -- >> unaware of reality that they would confuse this week with next week in terms of the same results. >> governor norquist agrees with you. but some republicans especially in the house who are unwilling to make the plan "b" type deal. >> but in the end where do you think it's going to end up? $500,000? $600,000? >> it's going to be in the middle. closer to obama's $400,000. >> i think that's about right. sounds about like $400,000. >> which leaves out less than 2% of the people. >> absolutely. >> people say that's an average income. most people make about $40,000 a year. that's average. $40,000 and that's with thre
>> if all tax rates go up, any deal can be called a tax cut. it's simple like that. if you go over the cliff, anything's a tax cut. >> if you do it now how's it interpreted? >> the interpretation will some primary voters is you danced around on rates. >> or they pass a bill cutting taxes continuing the bush tax cuts for under $500,000 a year. something they agree on. >> because of what bob's saying is they're worried some voters are going to look at that --...
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Dec 31, 2012
12/12
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give the president his tax hi on the rich now. fight him on everything else when taxes aren't part of the conversation. fight him on everything else in six weeks when the debt ceiling is hit or eight weeks, 12 weeks, whenever that fight happens, and do that. i do think that mcconnell -- that's where he wants to be. can he get there in the next 24 hours? that's what we don't know. >> tom brokaw? >> well, it seems to me that the middle class is going to have a date for the prom. everybody is talking about protecting the middle class here. so i think this deal will probably get done around the middle class tax cut. it's at what level. $400,000 or $250,000 or some other number. which is going to be critically important. a lot of people don't realize in a large urban and suburban areas of america, $250,000 doesn't make you rich. have you two kids in college at $60,000. if you're a boomer, you may have a dependent parent of some kind. spending another $20,000 or $25,000 on that. you have to have a definition of what is the middle class.
give the president his tax hi on the rich now. fight him on everything else when taxes aren't part of the conversation. fight him on everything else in six weeks when the debt ceiling is hit or eight weeks, 12 weeks, whenever that fight happens, and do that. i do think that mcconnell -- that's where he wants to be. can he get there in the next 24 hours? that's what we don't know. >> tom brokaw? >> well, it seems to me that the middle class is going to have a date for the prom....
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Dec 31, 2012
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take the tax issue -- give the president his tax hike on the rich now. fight him on everything else when taxes aren't part of the conversation. fight him on everything else in six weeks when the debt ceiling is hit or eight weeks, 12 weeks, whenever that fight happens, and do that. i do think that mcconnell -- that's where he wants to be. can he get there in the next 24 hours? that's what we don't know. >> tom brokaw? >> well, it seems to me that the middle class is going to have a date for the prom. everybody is talking about protecting the middle class here. so i think this deal will probably get done around the middle class tax cut. it's at what level. $400,000 or $250,000 or some other number. which is going to be critically important. a lot of people don't realize in a large urban and suburban areas of america, $250,000 doesn't make you rich. have you two kids in college at $60,000. if you're a boomer, you may have a dependent parent of some kind. spending another $20,000 or $25,000 on that. you have to have a definition of what is the middle class.
take the tax issue -- give the president his tax hike on the rich now. fight him on everything else when taxes aren't part of the conversation. fight him on everything else in six weeks when the debt ceiling is hit or eight weeks, 12 weeks, whenever that fight happens, and do that. i do think that mcconnell -- that's where he wants to be. can he get there in the next 24 hours? that's what we don't know. >> tom brokaw? >> well, it seems to me that the middle class is going to have a...
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Dec 31, 2012
12/12
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take the tax issue -- give the president his tax hike on the rich now. fight him on everything else when taxes aren't part of the conversation. fight him on everything else in six weeks when the debt ceiling is hit or eight weeks, 12 weeks, whenever that fight happens, and do that. i do think that mcconnell -- that's where he wants to be. can he get there in the next 24 hours? that's what we don't know. >> tom brokaw? >> well, it seems to me that the middle class is going to have a date for the prom. everybody is talking about protecting the middle class here. so i think this deal will probably get done around the middle class tax cut. it's at what level. $400,000 or $250,000 or some other number. which is going to be critically important. a lot of people don't realize in a large urban and suburban areas of america, $250,000 doesn't make you rich. have you two kids in college at $60,000. if you're a boomer, you may have a dependent parent of some kind. spending another $20,000 or $25,000 on that. you have to have a definition of what is the middle class.
take the tax issue -- give the president his tax hike on the rich now. fight him on everything else when taxes aren't part of the conversation. fight him on everything else in six weeks when the debt ceiling is hit or eight weeks, 12 weeks, whenever that fight happens, and do that. i do think that mcconnell -- that's where he wants to be. can he get there in the next 24 hours? that's what we don't know. >> tom brokaw? >> well, it seems to me that the middle class is going to have a...
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Dec 24, 2012
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that plan would block tax hikes for those earning $250,000. it would extend unemployment benefits to 2 million americans and put off spending cuts until the new year brings a new congress. our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats especially who i'm talking to in the senate which is probably where this will originate, the reality is that democrats don't hold a very big majority. her going to need to have a handful of republicans to cross party lines and vote with them on the whole concept of raising any taxes. especially what the president wants which is something that is raising taxes on all americans making more than $250,000. that's the senate. never mind the house, which of course, made clear to the house speaker that they won't even go for something that's a million dollars or more when it
that plan would block tax hikes for those earning $250,000. it would extend unemployment benefits to 2 million americans and put off spending cuts until the new year brings a new congress. our expert on all matters relating to the fiscal cliff is dana bash. she joins me now from washington. dana, great to see you again. tell me does even a band-aid approach work? >> it's going to be tough. this is all math. but it really has to do with the math with regard to votes. and democrats...
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Jan 1, 2013
01/13
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along with a low income tax credit. this is what sources are telling me. the big thing here, and the reason why chuck schumer is saying that there will be strong democratic support is because the president has won the war on race. there has been a lot of conversation about, well, let's go to 37 or 37.5. the president will get 39.6%. this takes us to the old rates under the clinton administration and they are permanent and it will take a big move by the congress to move us off that rate in the future this is a big -- a big win for the white house, $600 billion in revenue with no spending cuts and we go to round two as the calendar takes us to the next phase of all of this. i think it's a big win for the white house, something the republicans know they have to take, know there has to be more revenue in the treasury and willing to fight for another day on spending cuts. >> i want to read this statement that came out from house speaker john boehner, majority leader eric cantor and kevin mccarty. kathy mcmorris rogers entere
along with a low income tax credit. this is what sources are telling me. the big thing here, and the reason why chuck schumer is saying that there will be strong democratic support is because the president has won the war on race. there has been a lot of conversation about, well, let's go to 37 or 37.5. the president will get 39.6%. this takes us to the old rates under the clinton administration and they are permanent and it will take a big move by the congress to move us off that rate in the...
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Dec 30, 2012
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in which case middle class taxes will not go up. if that doesn't happen, then democrats in the senate will put a bill on the floor of the senate, and republicans will have to decide if they are going to block it, which will mean that middle class taxes do go up. i don't think they would want to do that politically, but they may end up doing it. and if all else fails, if republicans do, in fact, decide to block it so that taxes on middle class families do go up on january 1st, then we'll come back with a new congress on january 4th, and the first bill that will be introduced on the floor will be to cut taxes on middle class families. and, you know, i don't think the average person is going to say, gosh, you know r, that's a real partisan agenda on the part of either the president or democrats in congress. i think people will say that makes sense because that's what the economy needs right now. so one way or another we'll get through this. do i wish that things were more orderly in washington and rational and people listened to the be
in which case middle class taxes will not go up. if that doesn't happen, then democrats in the senate will put a bill on the floor of the senate, and republicans will have to decide if they are going to block it, which will mean that middle class taxes do go up. i don't think they would want to do that politically, but they may end up doing it. and if all else fails, if republicans do, in fact, decide to block it so that taxes on middle class families do go up on january 1st, then we'll come...
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Dec 31, 2012
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and corporate tax reform. i mean, i think there's a real opportunity there on reforming the overall code, but dealing with corporate taxes and dealing -- you know, he started to reach out to business leaders over the course of this conversation on the fiscal cliff. i think that's going to be another thing he looks at. >> now, a couple of things you mentioned in there. immigration reform, maybe corporate tax reform. what we saw in the first term, largely, was sort of intractability, that the president proposed things, health care, economic stimulus got three republican votes, one of whom, arlen specter, was no longer -- became a democrat by the time the election happened. are these things post-election things that republicans can get behind? because we just had an election and here we are, you know, a month and a half later, and we're at the same place with the fiscal cliff that i feel like we were six months ago! >> yeah, well, we've been here, done this, but i think it is possible, i think immigration reform,
and corporate tax reform. i mean, i think there's a real opportunity there on reforming the overall code, but dealing with corporate taxes and dealing -- you know, he started to reach out to business leaders over the course of this conversation on the fiscal cliff. i think that's going to be another thing he looks at. >> now, a couple of things you mentioned in there. immigration reform, maybe corporate tax reform. what we saw in the first term, largely, was sort of intractability, that...
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other sorts of tax provisions like the 2% payroll tax will stay in effect. and for those people who have been out of work the longest and have been depending on unemployment benefits, those will continue as a part of this deal. it is complicated. it has very significant impact on the economy, on people's pocketbooks, and there has been sharp political divide for a very long time. that's the subject of the campaign on many levels, it will be a subject of campaigns for many of these members of congress in the future when they are up for reelection. but this represents a significant breakthrough after so much difficulty. much of the credit will probably go to mitch mcconnell and vice president joe biden. and along with their key advisers and senior staffers being able to bridge this divide, with considerable outside pressure knowing that fiscal cliff is supposed to take effect at midnight. again, it still must be voted on. a deal does not make law. it's just a first step. but it's a very meaningful breakthrough. >> kelly o'donnell, thank you so much. kristen we
other sorts of tax provisions like the 2% payroll tax will stay in effect. and for those people who have been out of work the longest and have been depending on unemployment benefits, those will continue as a part of this deal. it is complicated. it has very significant impact on the economy, on people's pocketbooks, and there has been sharp political divide for a very long time. that's the subject of the campaign on many levels, it will be a subject of campaigns for many of these members of...
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Dec 30, 2012
12/12
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the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank you very much. >>> we've got a lot more planned for you this saturday night. here's what else is ahead. as our lawmakers wrestle with u.s. gun violence, chicago hits an awful milestone. 500 murders this year and counting. what's to blame? a former gang member and chicago's police superintendent join me live. >>> plus, president obama could tap this republican to lead the defense department. but not everyone wants to see a secretary hagel. why some of the loudest voices with coming from his own party. >>> and 2012 is almost history. but what's the takeaway? comedian dean obeidallah schools us. >>> and also good news to tell you about a story we have been reporting on tonight. two missing georgia boys have been found safe in austin, texas. their father, the man who allegedly kidnapped them has been taken into c
the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank you very much. >>> we've got a lot more planned for you this saturday night. here's what else is ahead. as our lawmakers wrestle with u.s. gun violence, chicago hits an awful milestone. 500 murders this year and counting. what's...
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Dec 24, 2012
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people ma taxes will go up for everyone. you can see the numbers here, 40 to 65,000, it's $2,000 of a tax hike. so as constituents, if they were to call you and they say why is this happening, what are you going to say to them? >> well, first of all, that's not going to happen. we may go off the cliff on january 1st but we would correct that very quickly thereafter. what i'm telling them is the reason it's happening is we have idey ideologues in the house of representatives who don't believe there's a fiscal side of the budget. they're focused on cutting spending in unprecedented ways and they don't believe in taxes essentially. on the budget committee we've seen this day in and day out. these members of the house, and i don't know how many of them there are, but at least 50 or 60 basically have established a record in which ne hathey have firmly embraced the concept of not raising taxes and serious cuts that they put themselves in a box and they really can't get out and that's really tying up everything. because we can do a
people ma taxes will go up for everyone. you can see the numbers here, 40 to 65,000, it's $2,000 of a tax hike. so as constituents, if they were to call you and they say why is this happening, what are you going to say to them? >> well, first of all, that's not going to happen. we may go off the cliff on january 1st but we would correct that very quickly thereafter. what i'm telling them is the reason it's happening is we have idey ideologues in the house of representatives who don't...
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Dec 27, 2012
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at that point republicans can support a deal without voting for a tax increase, in fact, because tax rates have automatically reset higher, they can say now we're voting for a big tax cut for the broad middle class. >> is that what's going to ensure that speaker boehner is not in danger is it. >> right. i mean, that's where someone earlier said, you know, he's got to figure out whether he's for the country or for his own job. in many ways he's preserving his own job by not pushing a vote by which the only way that vote would get over the legislative would be with a majority of democrats. he doesn't want to do that to preserve his job. once we go over the cliff, we can possibly do more of a bungee jump if we reverse the damage quickly. in that vote republicans don't have to vote for a tax increase, which to me is absolutely ridiculous in terms of serving the economy and the country, but i guess the politics makes sense to some of these guys. >>> jared bernstein, thank you. the storm is coming. look at that storm, the symptom is coming behind you. >> you weren't talking about a fiscal
at that point republicans can support a deal without voting for a tax increase, in fact, because tax rates have automatically reset higher, they can say now we're voting for a big tax cut for the broad middle class. >> is that what's going to ensure that speaker boehner is not in danger is it. >> right. i mean, that's where someone earlier said, you know, he's got to figure out whether he's for the country or for his own job. in many ways he's preserving his own job by not pushing a...
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Dec 31, 2012
12/12
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they are divided on taxes. the white house wants to raise rates on people making more than 250,000 dollars a year. republicans would like to keep the estate tax from going over. >> we have to make sure taxes on middle class families don'ts go up that would hurt our economy badly. >> i placed a call to the vice president, to see if he could jump start the negotiations on his side. i want everyone to know i'm willing to get this done. i need a dance partner. >> if there is no deal today, the average american family will start with a $3400 tax hike. >>> hilary clinton is waking up in the hospital, secretary of state was admitted to the presbyterian hospital. the clot stems from a concussion stuffed a number of weeks ago. her doctors discovered it during a follow up exam sunday. she has been out of work for weeks, recover from a stomach virus and a concussion. doctors are treating the clot with medication, and want to monitor the progress during the next 48 hours. >>> you voted for a handful of laws, tomorrow the l
they are divided on taxes. the white house wants to raise rates on people making more than 250,000 dollars a year. republicans would like to keep the estate tax from going over. >> we have to make sure taxes on middle class families don'ts go up that would hurt our economy badly. >> i placed a call to the vice president, to see if he could jump start the negotiations on his side. i want everyone to know i'm willing to get this done. i need a dance partner. >> if there is no...
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Dec 30, 2012
12/12
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the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank you very much. >>> we've got a lot more planned for you this saturday night. here's what else is ahead. as our lawmakers wrestle with u.s. gun violence, chicago hits an awful milestone. 500 murders this year and counting. what's to blame? a former gang member and chicago's police superintendent join me live. >>> plus, president obama could tap this republican to lead the defense department. but not everyone wants to see a secretary hagel. why some of the loudest voices with coming from his own party. >>> and 2012 is almost history. but what's the takeaway? comedian dean obeidallah schools us with his top ten lessons of 2012. >>> and also good news to tell you about a story we have been reporting on tonight. two missing georgia boys have been found safe in austin, texas. their father, the man who allegedly kid
the alternative minimum tax is one that people talk about. the estate tax. these are all things that would affect average americans and which would hit on january 1st. so the fiscal cliff, it might be even bigger than people realize. don? >> lisa, thank you very much. >>> we've got a lot more planned for you this saturday night. here's what else is ahead. as our lawmakers wrestle with u.s. gun violence, chicago hits an awful milestone. 500 murders this year and counting. what's...
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Dec 30, 2012
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68% and secondly the death tax. 55% rate -- >> let's go to the death tax. six of the wealthiest estates are the difference between what president obama warrants and jon kyl wants, $119 billion over ten years. for those 600,000 estates to give $119 billion away and instead take it out on cuts on medicare and roads and education is unconscionable. >> the bigger picture for a second. we've known for two years that these tax cuts would be expiring the day after tomorrow or the end of the day tomorrow. we've known these automatic cuts, the so-called -- this was going to be happening for more than a year. respect you a little embarrassed as leaders in the congress that it has gotten to this point that tomorrow is new year's eve, the day it all expires and you still don't have an agreement? we've been having this argument for two years. >> it is embarrassing but almost every disagreement we've this is not because of a senate where we've had lots of -- we've come to agreement on many things. there are 50 hard right people in the house who don't want to compromise.
68% and secondly the death tax. 55% rate -- >> let's go to the death tax. six of the wealthiest estates are the difference between what president obama warrants and jon kyl wants, $119 billion over ten years. for those 600,000 estates to give $119 billion away and instead take it out on cuts on medicare and roads and education is unconscionable. >> the bigger picture for a second. we've known for two years that these tax cuts would be expiring the day after tomorrow or the end of...
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Dec 24, 2012
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, no tax increases people below, but taxes for people above. >> tax rate hikes are a partisan solution driven by the president, but he is going to get tax rate hikes. to my republican colleagues, if we can protect 99% of the american public from a tax hike, that is not a tax increase in my book. >> so close and yet still so far. democrat senator chuck schumer and republican senator lindsey grap striking similar notes on taxes, but time is running out. there's still no real deal in sight. joining me now is congresswoman karen bass, democrat from california. congresswoman, it's great to have you here, and as we're hearing about what's taking place in washington or what was taking place before everybody closed up shop to go home for the holidays, we're hearing that more republicans are calling for compromise on the tax issue. however, nearly 200 house republicans appeared to set back speaker boehner's plan b. at this point is there hope that even a small deal will get done before the new year? >> well, i certainly hope there is, but, you know, we left -- when you said some republicans are
, no tax increases people below, but taxes for people above. >> tax rate hikes are a partisan solution driven by the president, but he is going to get tax rate hikes. to my republican colleagues, if we can protect 99% of the american public from a tax hike, that is not a tax increase in my book. >> so close and yet still so far. democrat senator chuck schumer and republican senator lindsey grap striking similar notes on taxes, but time is running out. there's still no real deal in...
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Dec 26, 2012
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everybody's taxes would go up. you won't feel that immediately with most of these things, but with unemployment insurance and others, you will. there will be a grass roots feeling among americans. if you look at the polls, republicans will get blamed. they themselves are wary of this. that's why democrats would politically feel inclined to go over the cliff. there will be so much on republicans, this might be the only way they agree to raise taxes. >> not to mention in the next senate too. 55 democrats and four seats in the house. >> quickly for both of you, we covered this today. i'm surprised by the lack of urgency. does that surprise you as well? >> this is not the debt ceiling. say we are working through the weekends and training mcconnell and biden on the phone and the president involved. really to take christmas off facing the fiscal cliff in a week shows how little optimism there is. >> i completely agree. we spent many late nights in the capital and is it doesn't seem like that is going to happen. >> amazin
everybody's taxes would go up. you won't feel that immediately with most of these things, but with unemployment insurance and others, you will. there will be a grass roots feeling among americans. if you look at the polls, republicans will get blamed. they themselves are wary of this. that's why democrats would politically feel inclined to go over the cliff. there will be so much on republicans, this might be the only way they agree to raise taxes. >> not to mention in the next senate...
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Dec 26, 2012
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the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right now. across the entire economy going over the cliff could slow the current growth rate of 3.1% and risk sparking another recession. joining us now to break it down from washington is cnbc's john harwood. thanks for being here. >> hey, ari. >> remind us where we were before plan b, how far apart were the last comprehensive offers between the president and negotiators? >> a few hundred billion dollars, which is a lot of money, sounds like a lot of money, but in the context of a ten-year budget deal when you have some very large programs that can be tweaked one way or another, is not that much. they were within shouting distance if the speaker could bring his caucus along to support the deal that he was promoting and getting close to striking with the president, but it's clear
the payroll tax holiday will expire on new year's day. that means most people will start paying more taxes in each paycheck. another 21 million americans would lose federal emergency unemployment benefits and those, let's remember, are people struggling the most right now. across the entire economy going over the cliff could slow the current growth rate of 3.1% and risk sparking another recession. joining us now to break it down from washington is cnbc's john harwood. thanks for being here....
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Dec 28, 2012
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>> no, it doesn't raise taxes. those tax increases will go into effect. there's no bill before the congress that raises taxes. there are many bills that are trying to stop those taxes in various forms. and let me be clear. i think the president's plan is an absolute disaster. a lot of those wealthy folks earning over $200,000 aren't even folks. they're small businesses, filing under sub-chapter "s," some 84% of net business income is affected by this tax increase. that's the income they use to create and expand two-thirds of the jobs in our economy. that is an absolutely insane economic policy, but that's at the core of what the president is trying to do. the cbo is warning us, $200,000 jobs will be destroyed by this policy. but if we can't stop it, the best we can do is offer every warning we can, and then try and save as many other taxpayers as possible. >> do you think the white house should add a little sweetener to the deal for some conservatives? for example, stalling the sequestration cuts and extending the current estate tax rates? >> oh, i don't
>> no, it doesn't raise taxes. those tax increases will go into effect. there's no bill before the congress that raises taxes. there are many bills that are trying to stop those taxes in various forms. and let me be clear. i think the president's plan is an absolute disaster. a lot of those wealthy folks earning over $200,000 aren't even folks. they're small businesses, filing under sub-chapter "s," some 84% of net business income is affected by this tax increase. that's the...
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tax group that i run, we want to continue the tax -- lower tax rates for all americans. we want to go to the tax reform that's in the paul ryan budget. the house of representatives has already pass ed twice the ryan budget, which reforms taxes for all americans, takes the top rate to 25%, which is what the europeans do for the business community. we want to go there. how do you get there? i'm not sure that defeating plan b strengthens our ability to get there. i think, in fact, that plan b was a good step in the right direction towards protecting and continuing the tax cuts for everybody. >> and do you think that republicans sort of shot themselves in the foot because they defeated this. at the end of the day, the votes might be there for tax increases that from the republican perspective, are even worse than what the speaker offered that they wouldn't let him even bring up for a vote. >> as i read the speaker's proposal, plan b, i thought it moved us in the direction of maintaining all the bush tax cu cuts. look, this is not a fight that begins and ends the first week o
tax group that i run, we want to continue the tax -- lower tax rates for all americans. we want to go to the tax reform that's in the paul ryan budget. the house of representatives has already pass ed twice the ryan budget, which reforms taxes for all americans, takes the top rate to 25%, which is what the europeans do for the business community. we want to go there. how do you get there? i'm not sure that defeating plan b strengthens our ability to get there. i think, in fact, that plan b was...
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Dec 24, 2012
12/12
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KCSM
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he said the 1 requirement i have for any deal is hiking tax rates. the reason that boehner was not able to do plan b was because it involved breaching the principle, which he did openly and said he was ready to do it. there were conservatives who would not do it. that is not a figure of the party that will be extremely hard to reconcile. if you can not, how you get a deal done before january 1? >> that is essentially the problem the president faced with boehner two years ago. last year. can he deliver? how can you negotiate with someone who cannot deliver on his side? >> you go to people for support, at least three of whom have lost their committee assignments. how can you expect them to come over to your way of thinking? >> they were crowing when john boehner went down, taking some delight, but that was pre- cleared by the leadership. the leadership was with him. this is not a question of -- quite bluntly, leaving and losing their virginity on the issue of tax cuts. it is an important thing for these republicans who have not voted. no republican in
he said the 1 requirement i have for any deal is hiking tax rates. the reason that boehner was not able to do plan b was because it involved breaching the principle, which he did openly and said he was ready to do it. there were conservatives who would not do it. that is not a figure of the party that will be extremely hard to reconcile. if you can not, how you get a deal done before january 1? >> that is essentially the problem the president faced with boehner two years ago. last year....
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Dec 31, 2012
12/12
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WJLA
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there's divide on taxes. the white house wants to raise tax rates on people making will go up. >> if we're not able to reach an agreement, it will be dire. >> reporter: if there's though deal today, the average american family will start the year with a $3400 tax hike. paula and john? >> tahman bradley reporting live from washington this morning. happy new year to you. >> same to you. >>> the president called the shooting at newtown was the worst day of his presidency. >>> a bus crash has killed nine people and injured others. the tour bus lost control on interstate 84 yesterday morning. it happens in a treacherous section of the blue mountains called dead man pass as the bus was heading back to vancouver from las vegas. the drive survived but was too badly injured to speak with police. >>> nasty weather being said to have caused dozens of accidents across the country. >> here's jim dickey. >>> these early morning temperatures this morning. 5 in burlington, 9 in portland. 18 in boston. now, we switch gears th
there's divide on taxes. the white house wants to raise tax rates on people making will go up. >> if we're not able to reach an agreement, it will be dire. >> reporter: if there's though deal today, the average american family will start the year with a $3400 tax hike. paula and john? >> tahman bradley reporting live from washington this morning. happy new year to you. >> same to you. >>> the president called the shooting at newtown was the worst day of his...
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Dec 31, 2012
12/12
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CNBC
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tax absolutely. we can give reasonable benefits, controlled, smart spending with, do all those things and keep tax cuts at a reasonable rate. >> with the average single income household. let's say the man works, wife doesn't, or vice versa. it is $6 used versus every $1 paid in. 6-1. can clearly unsustainable. >> we need far more fundamental reform. what the governor expects to avoid massive tax increases. >> who's got the guts to do that? feels as if kufrnt congrecurren do not, jimmy. >> the president trashed it in the campaign. i think that's the medicare reform we need. does that mean revenue is at 18% of gdp for infinite? i don't know about that. >> i would like to ask you, governor, what did you think of what obama was saying? do you feel he moved the ball forward or backwards? >> i think the deal will go down regardless because the embarrassment would be so great for not going it. >> who in particular do you think is causing that embarrassment? >> i think washington, d.c. everyone. rs everyone.
tax absolutely. we can give reasonable benefits, controlled, smart spending with, do all those things and keep tax cuts at a reasonable rate. >> with the average single income household. let's say the man works, wife doesn't, or vice versa. it is $6 used versus every $1 paid in. 6-1. can clearly unsustainable. >> we need far more fundamental reform. what the governor expects to avoid massive tax increases. >> who's got the guts to do that? feels as if kufrnt congrecurren do...
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Dec 30, 2012
12/12
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FOXNEWSW
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amt, the alternative minimum tax. a fix so that won't hit 20 million more americans. >> that is exactly right. >> chris: let me focus on the tax rates. that has been the biggest issue in the whole debate. the president wants to extend the tax rates on families making less than $250,000 a year. senator graham is that acceptable or does the threshold for when you start to make the bush tax rates go away does it have to be higher? some people said $400,000 and $500,000. how confident are you that the house which refused to set the mark at a million dollars will pass any tax rate increase? >> if democrats will vote for the deal in the house if they are allowed to vote for whatever the senate passes there will be enough republicans but boehner needs a majority of the republican party. in 2010 we extended all of the tax cuts because the economy was weak. we are not going to extend all of the tax cuts but the economy is weaker. i don't understand the economics but i do understand the politics. the president won. the presiden
amt, the alternative minimum tax. a fix so that won't hit 20 million more americans. >> that is exactly right. >> chris: let me focus on the tax rates. that has been the biggest issue in the whole debate. the president wants to extend the tax rates on families making less than $250,000 a year. senator graham is that acceptable or does the threshold for when you start to make the bush tax rates go away does it have to be higher? some people said $400,000 and $500,000. how confident...
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Dec 27, 2012
12/12
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KTVU
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affected households would then have to pay $3700 more in taxes this year. cutting this deadline close has practically become an annual holiday tradition for congress the past few years. 'back in 2010, they passed the amt patch on christmas eve. in 2008/2009, they actually passed it in january and set it retroactively. uncertainty surrounding the amt has the internal revenue service on its toes. the tax agency has warned congress that if no new policy is passed, the irs will need to reprogram its computers, forcing a delay in filings and tax refunds until march of 2013. president obama and members of congress are set to return for one day more of talks to avert spending cuts at the same time tax cuts expire. one alternative being floated - congress may let income taxes go up on everyone one tick past the stroke of midnight, then quickly vote to decrease tax rates for most americans back to 2012 levels. meanwhile, starbucks ceo howard schultz wants his employees to send a message and scrall, "come together," on cups for drink orders in the d.c. area. it's the
affected households would then have to pay $3700 more in taxes this year. cutting this deadline close has practically become an annual holiday tradition for congress the past few years. 'back in 2010, they passed the amt patch on christmas eve. in 2008/2009, they actually passed it in january and set it retroactively. uncertainty surrounding the amt has the internal revenue service on its toes. the tax agency has warned congress that if no new policy is passed, the irs will need to reprogram...
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Dec 27, 2012
12/12
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WBAL
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say they're voting to lower some taxes, and that makes a very big political difference. natalie? >> kelly o'donnell on capitol hill. thanks so much, kelly. for more now, we go to our chief white house correspondent and political director, chuck todd. chuck, is it all but inevitable now? are we going over the cliff? >> reporter: well, we're probably going over the cliff, but even when we go over, it's going to be temporary. but listen to that last point that kelly made. that adds to the silliness of what we are in right now, which is the last throes of these congressional shenanigans. we may get a deal. i talked to some folks on the senate side who think they can get a deal together in the next 48 hours, that there will probably be some meet nth white house in the next 24 to 367 hours. and it's possible they could cobble together something. but i did have others who said to me, particularly those on the house said that said you know what, it's almost easy irat this pointing to over the cliff. next week they get to be cutting taxes, where this week they're raising them, ev
say they're voting to lower some taxes, and that makes a very big political difference. natalie? >> kelly o'donnell on capitol hill. thanks so much, kelly. for more now, we go to our chief white house correspondent and political director, chuck todd. chuck, is it all but inevitable now? are we going over the cliff? >> reporter: well, we're probably going over the cliff, but even when we go over, it's going to be temporary. but listen to that last point that kelly made. that adds to...
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Dec 24, 2012
12/12
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MSNBCW
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the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 million americans. while these elements could have a recession-inducing effect, they could undo those measures shortly after the first of the year. estimations are if we do go over the cliff it would be the third quarter which the recession may hit. when be look at the issue of a -- the markets, however, may feel the brunt of the fiscal cliff fallout. the dow fell on friday after the deal failed the night before. last week fitch warned it may downgrade the u.s. credit rating if congress cannot reach a deal. some lawmakers are angling for the best political outcountry. >> when i listen to the president, i think he's eager to go over the cliff for political purposes. he gets all this additional tax revenue for new programs, gets to cut the military which democrats have been calling for for years, and he gets to blame republicans for it. implts joining me are off and o
the expiration of the tax cuts with a $2200 average tax high. the payroll tax cut would also expire meaning another $40 a paycheck and long-term unemployment benefits would end for 2 million americans. while these elements could have a recession-inducing effect, they could undo those measures shortly after the first of the year. estimations are if we do go over the cliff it would be the third quarter which the recession may hit. when be look at the issue of a -- the markets, however, may feel...
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Dec 30, 2012
12/12
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WTTG
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and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate? you heard lindsay graham and do republicans pass whatever the senate agrees to? >> the odds are somewhat better than 50/50 we get a minimal deal in the senate. not one that solves our debt problem, as you pointed out earlier and this is a prequel to going through it again around the first of march over the debt ceiling and getting us through this crisis, slightly better than 50-50 and the real question is in the house of representatives and will it be enough of a compromise, that enough republicans can vote for it, to get through the house? i put that at 50-50. >> chris: byron, the most we can say, or
and, every working american's taxes will go up january 1st if they do nothing about the payroll tax, a pretty big increase, and, defense cuts and everyone agrees, with that policy to have middle class americans' taxes go up, and, it totally irresponsible defense cuts and this is what congress thinks is a good deal. >> chris: i'm not sure it is a good deal but avoids the worst of the fiscal cliff. senator bayh -- obviously, we don't know, what is your sense, no filibuster in the senate?...
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Dec 30, 2012
12/12
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CNNW
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rate should be as well as on taxes on small business as well as the death tax. they are very divided on this issue. >> the estate tax. yeah. so let me have you answer that. i have another subject i want to bring up. do you think there will be a deal and that most taxes will not go up? >> we're not there yet, but i'm hoping in a bipartisan way we can get something done before new year's day. >> okay. let me -- i wanted to play you something else, because you were an immigration lawyer before you came in, continues to be something you're interested in. and the president was talking about priorities for this year and here's what he had to say. >> i've said that fixing our broken immigration system is a top priority. i will introduce legislation in the first year to get that done. i think we have talked about it long enough, we know how we can fix it, we can do it in a grow hensive way that the american -- comprehensive way the american people support, that's something we should get done. >> sounds like it could be a done deal. talked enough about it. >> i think he
rate should be as well as on taxes on small business as well as the death tax. they are very divided on this issue. >> the estate tax. yeah. so let me have you answer that. i have another subject i want to bring up. do you think there will be a deal and that most taxes will not go up? >> we're not there yet, but i'm hoping in a bipartisan way we can get something done before new year's day. >> okay. let me -- i wanted to play you something else, because you were an immigration...
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Dec 31, 2012
12/12
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WMAR
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the tax impact for the average american family, more than 3400 dollars. senate leaders continued to work on a stopgap bill but sticking points remain. >> there's still significant distance between the two sides, but negotiations continue. >> reporter: negotiations will through the night, now with just hours to go until the deadline. abc news washington. >>> for more on the fiscal cliff and what it means for your money, we've got you covered, abc2news.com, just head to our home page slide show for a break down of the different scenarios in washington and what they could mean for your paycheck. >>> and now, maryland's most accurate forecast. >>> gusty winds this afternoon. take a look. a shot that looked very cold in parkville with those clouds, from time to time, mixed in with some sunshine. take a look at chesapeake beach, very gusty winds now along the bay this afternoon. we'll take you up toward frederick, a scenic looking shot and the shot downtown right now, dry but cold. 31 degrees at the airport right now. look at the dew point at 19. a dry atmosphe
the tax impact for the average american family, more than 3400 dollars. senate leaders continued to work on a stopgap bill but sticking points remain. >> there's still significant distance between the two sides, but negotiations continue. >> reporter: negotiations will through the night, now with just hours to go until the deadline. abc news washington. >>> for more on the fiscal cliff and what it means for your money, we've got you covered, abc2news.com, just head to our...